Preston, well done! You have a great knack of asking questions in such a way as to maximize your guest's answers thus your listening audience gets the greatest value in the time allotted! Thank you and great job Nick! Well worth my time!!!!!!!!!
Thanks Preston and Nick for an excellent in-depth discussion. I can concur with PoW and not PoS which is not a level playing field. Lots of shitcoins will shill PoS, as an investor, I stick to BTC hodl...
But you won't lose your BTC if you have your Seed Words backed up and secured. And that is the very first thing people should do when creating their wallets. As long as you have your 12/24 seed words you are fine.
PoW is just another form of PoS. Instead of token holdings you're staking mining power. A whale in eth has the same effect as a mining whale. I dont prefer on over the other, but it's silly to dismiss PoS and giving silly arguments like whales will corner the market when you have whales in PoW. Not to mention that there are already plenty of PoS cryptocurrencies that exist and working fine. So the idea that PoS has never been tried or battle tested is also silly.
Join a staking pool and be a pro-rata whale. Just like mining pools pro-rate mining effort. But I still wouldn't want BTC to go PoS. All other coins, I'm happy. They're not protecting a unique position. They're augmenting the space only.
Which has to constantly move and upgrade. ETH foundation premined how many coins they dump on retail. They never have to change a thing. Just stake and earn more ETH!!!!! Thats the system we have now. Whats the cap on ETH ever going to be made?
@@dragoonthief What are you even saying. You're all over the place here. They constantly have to upgrade yet they never have to change a thing? What does the cap on eth have to do with anything? Ethereum isnt Bitcoin and has completely separate objectives.
I disagree, I don't see POS working out. I want external resources to be consumed to validate the network to connect it to the physical world. It's also another form of decentralization by having the mining stakeholders.
@@michael2275 Cardano/EOS/Thorchain/Binance are a few PoS chains working. PoS is tied to physical world. It still requires electricity, it still requires hardware, and it still requires internet connection. Mining isnt an extra layer of decentralization, the some of the biggest btc whales are the miners themselves including Satoshi. Again, I am not against PoW and dont have a problem with physical mining rigs, but I dont see a reason to be so opposed to PoS.
Preston, well done! You have a great knack of asking questions in such a way as to maximize your guest's answers thus your listening audience gets the greatest value in the time allotted! Thank you and great job Nick! Well worth my time!!!!!!!!!
Dude, your channel is amazing . But so underrated.. I have been bing watching your stuff:)
Thanks Preston and Nick for an excellent in-depth discussion.
I can concur with PoW and not PoS which is not a level playing field.
Lots of shitcoins will shill PoS, as an investor, I stick to BTC hodl...
Great content Preston! Can someone address how to use MultiSIg with a Ledger hardware wallet?
Remember: CBDC = Surveillance tokens.
So that one thing got me thinking(even with the intention to update your ledger firmware you still have a chance to lose all your BTC??) OHH MY !
But you won't lose your BTC if you have your Seed Words backed up and secured. And that is the very first thing people should do when creating their wallets. As long as you have your 12/24 seed words you are fine.
PoW is just another form of PoS. Instead of token holdings you're staking mining power. A whale in eth has the same effect as a mining whale.
I dont prefer on over the other, but it's silly to dismiss PoS and giving silly arguments like whales will corner the market when you have whales in PoW.
Not to mention that there are already plenty of PoS cryptocurrencies that exist and working fine. So the idea that PoS has never been tried or battle tested is also silly.
Join a staking pool and be a pro-rata whale. Just like mining pools pro-rate mining effort.
But I still wouldn't want BTC to go PoS. All other coins, I'm happy. They're not protecting a unique position. They're augmenting the space only.
Which has to constantly move and upgrade. ETH foundation premined how many coins they dump on retail. They never have to change a thing. Just stake and earn more ETH!!!!! Thats the system we have now. Whats the cap on ETH ever going to be made?
@@dragoonthief What are you even saying. You're all over the place here. They constantly have to upgrade yet they never have to change a thing?
What does the cap on eth have to do with anything? Ethereum isnt Bitcoin and has completely separate objectives.
I disagree, I don't see POS working out. I want external resources to be consumed to validate the network to connect it to the physical world. It's also another form of decentralization by having the mining stakeholders.
@@michael2275 Cardano/EOS/Thorchain/Binance are a few PoS chains working. PoS is tied to physical world. It still requires electricity, it still requires hardware, and it still requires internet connection. Mining isnt an extra layer of decentralization, the some of the biggest btc whales are the miners themselves including Satoshi.
Again, I am not against PoW and dont have a problem with physical mining rigs, but I dont see a reason to be so opposed to PoS.